Selling a house in the Asheville, NC area is a rewarding process, but there can be significant costs involved. This isn’t just true in our area – it’s true for sellers throughout the United States, as fees, taxes, loan payoffs, and other closing costs are inevitable in most home sales. Whether you’re selling your current residence in Buncombe County or you’re managing the sale of your vacation home from a distance, it’s helpful to know the average costs incurred during a sale. We’ve laid out the most common costs associated with selling a home in the Asheville area below, so take a look and contact us if you have further questions. Our Asheville real estate experts will be happy to tell you more.
Average Cost of Selling a House in Buncombe County
Let’s start with the average out-of-pocket costs you can expect. Around 11.28% your home’s selling price will go toward the various costs associated with selling, per Clever, though this percentage will vary from sale to sale. In the case of a house that sells for $489,990 – the median sale price in Buncombe County as of July 2023, according to Redfin – the cost of selling would come to $55,270.87. Using this formula, here are the ballpark costs to sell houses at a few common price points.
| Sale Price | Cost to Sell |
| $299,000 | $33,727 |
| $499,000 | $56,287 |
| $799,000 | $90,127 |
| $999,000 | $112,687 |
Costs Incurred When Selling a Home
Now that you have a general idea of the total costs to expect when selling a home, let’s jump into all of the smaller costs that add up to equal 11.28% of the final sale price.
Preparation Costs
A big part of selling a home is getting it ready for the spotlight, and the steps required to prepare a house for sale vary by the home. Some sellers prefer to take on tasks like painting, making repairs and deep cleaning on their own. Those who would rather leave it to the professionals may hire a handyman, painters for the interior and exterior, and a cleaning service.
It’s wise to hire a professional photographer to capture attention-grabbing images of your home. To take things up another notch, you can hire a stager to make your house look picture-perfect. If you’d prefer to save on that service, you can stage your home yourself instead.
While preparation costs can add up, the investment in preparing your house for sale is well worth the money, especially if it leads to a higher sale price at closing. Preparing your home for sale while you’re still living in it requires flexibility, as you meet with contractors, pack and, eventually, keep the home ready to be shown at a moment’s notice. For these reasons, it’s actually simpler to sell your home in Asheville from a distance. If this is your situation, a Freestone real estate agent can handle everything for you, coordinating photography, staging, showings and coordinate the closing on your behalf. Plus, if your second home served as a part-time rental or VRBO during your ownership, it will likely be pre-staged and will photograph very well.
Closing Costs of Selling a Buncombe County Home
At closing, the buyer and seller are each responsible for a set of closing costs. According to Homelight, the closing costs for the seller can range from 6 to 10% of the home’s final sale price. These costs include:
- Realtor Fees
- Otherwise known as real estate commission, these fees are split between the two real estate agents working on the sale.
- Excise Tax
- Also known as “revenue stamps,” this tax is collected by the state of North Carolina. You will pay $2 for every $1,000 of the home’s sale price. So, for example, you would owe $1,400 in excise tax on a house that sold for $700,000.
- Attorney Fees
- This covers the cost of deed and document preparation.
- Buyer’s Closing Costs (if applicable)
- Sometimes, the seller will be asked to pay the buyer’s closing costs to seal the deal (and to keep the buyer from having to bring as much cash to the closing).
- Prorated Property Taxes
- You will owe a prorated portion of your annual property taxes. The amount will depend on when you close and when your taxes are due.
- Loan Payoff Amount
- If you had a mortgage on the house, you’ll be charged a payoff amount and a reconveyance fee.
- Wire Fees
- This covers the cost of wiring money to the necessary parties.
Other closing costs can include prorated HOA fees, wire fees and the cost of a home warranty. For a deep dive into each of the fees and what the buyer will typically pay, check out our article on how to calculate closing costs.
How Much Does It Cost to Sell a House With a Realtor vs. Without
The typical real estate commission comes to 5.8% of a home’s closing price in 2023, per Homelight. This means that, if your home sells for $499,000, you can expect to pay $28,942 in real estate commission. Half will go to the buyer’s agent, half to the seller’s.
If you choose to sell your home as “for sale by owner,” you can avoid paying real estate commission at closing. However, don’t call off your search for an agent just yet. Selling your home yourself comes with a lot of hassle, as you’ll be fully responsible for the entire process.
In contrast, a real estate agent will bring experience, insight and a network of professional contacts to the sale that you might not have access to otherwise. As Progressive summarizes, your agent will connect you to stagers and photographers, price your home competitively based on the local market, list and market your home, conduct showings, and coordinate the legal paperwork with an attorney for closing. This type of expertise is invaluable when it comes to getting a great offer for your home, and you’re likely to make more on the sale by working with a realtor than you would selling on your own.
Contact the Real Estate Experts at Freestone Properties
Selling your home is a complicated process, and that’s why you want a reliable agent on your side. Our team here at Freestone Properties is made up of local agents who know the Asheville area inside and out. A thorough understanding of the Western North Carolina real estate market, combined with years of experience and dedication to our clients, makes our team one of the best in the business. We would love to partner with you to sell your home.
